Cushman & Wakefield Arranges $67M Multifamily Sale on Behalf of ApexOne Investment Partners

Rhea-AI Summary

Cushman & Wakefield (NYSE: CWK) has completed the sale of Riverchase Landing, a 468-unit apartment community in Birmingham, Alabama, for $67.1 million. The transaction was facilitated by Jimmy Adams, Craig Hey, and Andrew Brown, representing seller ApexOne Investment Partners, while Kushner Companies acquired the property. The new ownership aims to enhance the property through a value-add campaign targeting the growing renter pool in Hoover suburb.

The company's Sunbelt Multifamily Advisory Group is noted for significant market presence, with over $6.2 billion in multifamily and land sales in 2020.

Positive

• Successful sale of Riverchase Landing for $67.1 million, indicating strong demand in the commercial real estate market.
• Cushman & Wakefield's Sunbelt Multifamily Advisory Group is a market leader, having achieved $6.2 billion in sales in 2020.

Negative

• None.

BIRMINGHAM, Ala.--(BUSINESS WIRE)-- Cushman & Wakefield (NYSE: CWK) announced the commercial real estate services firm has arranged the $67.1 million sale of Riverchase Landing, a 468-unit apartment community located in Birmingham, Alabama.

Jimmy Adams, Craig Hey and Andrew Brown of Cushman & Wakefield represented the seller, ApexOne Investment Partners, in the transaction. Kushner Companies acquired the property.

“Riverchase Landing is a unique property that offers residents a home-like feel with 1,600-square-foot floor plans and robust community amenities,” Adams said. “New ownership is excited to implement a value-add campaign to capture the tastes of the growing Hoover suburb renter pool.”

Cushman & Wakefield’s Sunbelt Multifamily Advisory Group ranks No. 1 in Sunbelt market share based on over 250 transactions and $6.2 billion in multifamily and land investment sales in 2020 (Source: Real Capital Analytics www.rcanalytics.com). Market share reflects number of sales for Alabama, Arkansas, Northwest Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas. For more information, visit https://multifamily.cushwake.com.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211118005874/en/

Savannah Durban

+1 404 853 5371

Savannah.Durban@cushwake.com

Source: Cushman & Wakefield